Current rules require that a deferred tax asset or liability be recognized for likely differences between the

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Current rules require that a deferred tax asset or liability be recognized for likely differences between the reported values and tax bases of assets and liabilities recognized in business combinations (for example, in exchanges that are non-taxable to the selling shareholders). Does this decision change the amount of consolidated net income reported in years subsequent to the business combination? Explain.

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Advanced Accounting

ISBN: 978-1118098615

5th Edition

Authors: Debra C. Jeter, Paul Chaney

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